The current world economic crisis was in no way a surprise to countless individuals who paid attention to economic news, and indeed, many experts predicted it. Of course, the cheerleaders in the mainstream media minimized any attempt or suggestion that surging house prices represented a bubble. Moreover, they disregarded the possibility that extreme and bizarre mortgages offered to homeowners could lead to a wave of foreclosures that would send the bond and stock markets into disarray.
The cause of the current crisis and subsequent economic decline varies widely in the minds of economists and talking heads. For the most part, we are told that greed and deregulation led to the crisis. Of course, the media never mentions the facts concerning the Federal Reserve's artificially low interest rates, a fiat currency whose issuance creates a debt spiral that can't be escaped, or the worldwide depletion of petroleum that is vital in ever increasing amounts. Thus, some have speculated that this could be a controlled attempt to undermine the US economy, or in short, a messy financial coup d'etat!
In support, we have new powers given to the treasury, and even a recent call to ditch the US dollar. The US dollar has been a reserve currency for the nations of the world for over half a century and the majority of the American people are clearly unaware of the tremendous benefits this provides to our county. The consequences of dropping the dollar are unfathomable because the value of assets held in US dollars would drop like a stone. Peter Schiff, who is one of the now famous prognosticators of last fall's crash, outlines how the Federal Reserve is turning on the printing press in order to finance the purchasing of US Treasury bills with the end result being the destruction of our currency.
President Obama's campaign was financed heavily by banking and Wall Street elites. He is wondrously popular, and very much a believer in the need for government to finance everything from education, to health care, to environmental initiatives. Is it possible that the current economic crash is in fact a controlled collapse, designed to manipulate stubborn citizens to accept a global currency, major deficit spending, and a socialist expansion of government power? Obama wholeheartedly supported the first financial bailout, and even now supports the government take over of large financial firms. Obama's true colors are demonstrated by his desire to not lose sight of social initiatives, even as the nation continues to pile on debt. He also has not spoken out against the calls for a global financial regulatory body or even a global currency. So it appears that Obama's two pronged attack on America involves blowing out its currency's reserve status by inflating it to a point of saturation, and expanding the socialist agenda and policies.
Some have argued, that the money used in the bailout is no more than a promised transfer of wealth from the public at large to major financial players. Both Henry Paulson and Geithner were major financial players for Goldman Sachs and the New York Fed respectively. So what are we to do then, as our economy is torn apart by derivative time bombs and Federal Reserve shelling? We must be prepared with basic living necessities, stay out of debt, and buy gold. The collapse of our debt-based economy was inevitable. The economy can't remain in a state of perpetual growth on a planet of finite resources. Yet even in a time of trouble, the government, purposely or unintentionally is subverting our liberties by grabbing additional political and financial control.